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Wednesday, November 14, 2007

Peak oil trickles into the mainstream. Oil and the Irish potato famine.

The "peak oil" leakage into the main stream media may be turning into more of a babbling brook. Clearly, as this is THE issue we must all face immediately there is not enough coverage. But the LA Times ran a story today explaining what high oil prices mean to the price of everything else. Of course, once the MSM takes up the task of explaining how much food and oil are connected the public might see the fix we are in. Go here to freak yourself out. The best historical analogy is the Irish Potato famine. The terror in the boardrooms of CNN, Faux News and the rest is that the stock market will cave in if the rotten news about oil gets any play.
As well it should. The reporting on oil prices still contains the "anomaly" subtext. As if a giant oil field will be found any minute and oil prices will plummet. A giant oil field has not been found since the 60's....FYI... or better the magic Saudis will ramp up production. The Saudis probably CAN'T ramp up production.
After Katrina oil shot past $80. It is worth noting that there is no apparent event driving the 3 month price surge now. Demand has met, and probably passed, supply.
And to my small group of readers - here is my wish - that somehow each one of you told everyone you know to find out what "peak oil" means and find out quickly. Dick Cheney snidely remarked a while ago that conservation may be a "personal virtue" but is not worthy of public policy. Reality check : you are the public that is going to pay for the lack of policy. Dick has invested in reality. Check out where HIS money has gone. The VP knows the score.
I no longer believe that the U.S. will do anything sane about our lack of oil and the coming brutal adjustments. But what people can do is be aware of what is happening and why. We can, at the very least, make sane individual decisions in our daily lives.

The History channel did a serviceable hour about peak oil last night. It is a start
.

 

 
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